tulokset
Silmäile
Osuva
Osuva on Vaasan yliopiston avoin julkaisuarkisto. Osuva sisältää Vaasan yliopiston omat julkaisut, opinnäytteet ja tieteellisten artikkeleiden rinnakkaistallenteet. Osuvaan sisältyy julkaisujen viitetietoja, tiivistelmiä ja kokotekstejä. Sähköisten arkistokokoelmien sisältö ei ole luettavissa verkossa.
Kokoelmat Osuvassa
Viimeksi tallennetut
The Use of Large Language Models in HCI : A Critical Analysis of Synthetic Users
Salminen, Joni; Amin, Danial; Jung, Soon-Gyo; Jansen, Bernard; Abdelrahman, Yomna (toim.); Vargo, Andrew (toim.); Withana, Anusha (toim.); Tag, Benjamin (toim.); Henze, Niels (toim.); Chan, Liwei (toim.) (ACM, 2025-10-09)
While many user researchers remain skeptical of synthetic users generated by large language models (LLMs), their adoption is growing in industry. This conceptual article investigates the root causes driving synthetic user adoption, maps potential use cases, and identifies key risks. Our inquiry reveals that while synthetic users emerge from legitimate pressures in user research, they present fundamental methodological and epistemological challenges. Their normative biases and inability to generate novel insights make them particularly problematic for user research activities like usability testing and user interviews. However, the emergence of synthetic users underlines challenges in user research, including resource constraints, privacy concerns, and difficulties in demonstrating the return on investment. Rather than simply dismissing synthetic users, we argue that understanding them as a symptom of these underlying challenges can inform efforts to strengthen the HCI research methodology.
Does Capital Structure Affect Banks’ Profitability? Evidence from Nordic Commercial Banks
Tamang, Anita; Khanal, Biswash (2025-10-24)
This study uses panel data analysis with profitability variables measured by return on assets, return on equity and net interest margin to examine the relationship between capital structure and profitability in 19 Nordic commercial banks from the year 2015 to 2024. This study concludes that the leverage or the ratio of liabilities to total assets is found to have a significant and inverse relationship with bank profitability through random effect regression model. Whereas higher equity values tends to improve performance on asset returns and interest margins, higher leverage results in lower profitability. Bank size promotes profitability through economies of scale whereas inflation has a positive effect on banks capacity to negotiate higher
pricing. GDP growth shows no relevant influence on bank performance. These findings are in favor of the tradeoff theory of capital structure and indicate that maintaining an optimal debt and equity balance is vital for profitability and financial stability throughout the Nordic bank scenario, providing invaluable lessons for bank managers, regulators, and investors in the developed market setting.
Yhteisömyynnin verottomuuden edellytykset arvonlisäverotuksessa
Puska, Tiina-Mari (2025-09-12)
Arvonlisäverotus on harmonisoitua Euroopan unionissa, joka vaikuttaa yhteisön sisällä
tapahtuvaan tavarakauppaan ja sen arvonlisäverokohteluun. EU:n alueella tapahtuvaa
tavarakauppaa koskeva arvonlisäverolainsäädäntö perustuu EU:n arvonlisäverodirektiiviin
(2006/122/EY), jota sovelletaan yhdenmukaisesti EU:n arvonlisäveroalueella. Suomessa
arvonlisäverodirektiivin (2006/122/EY) säädökset on implementoitu Suomen arvonlisäverolakiin
(1501/1993, AVL). Tutkielma käsittelee EU:n alueella tapahtuvaa arvonlisäverovelvollisten elinkeinonharjoittajien
välistä tavaran yhteisömyyntiä ja myyntiä koskevan verovapauden edellytyksiä.
Arvonlisäverotuksessa yhteisömyynnillä tarkoitetaan tavaran myyntiä kuljetettuna toiselle
verovelvolliselle toiseen EU-maahan. Yhteisömyynnistä ei suoriteta arvonlisäveroa, jos
yhteisömyyntiä koskevat tietyt verottomuuden edellytykset täyttyvät. Tutkielmassa tavaran
yhteisömyyntiä ja sitä koskevia arvonlisäverottomuuden edellytyksiä käsitellään suomalaisen
elinkeinonharjoittajan näkökulmasta. Tutkielma on oikeusdogmaattinen tutkielma, jonka
tavoitteena on selvittää ja systematisoida voimassa olevan oikeuden sisältöä ja merkitystä
tavaran yhteisömyynnin verovapauden soveltamisessa elinkeinonharjoittajien välisessä
tavarakaupassa EU-alueella. Tutkielman lähdemateriaali koostuu EU:n arvonlisäverodirektiivistä
(2006/122/EY) ja Suomen arvonlisäverolaista (1501/1993) sekä Euroopan unionin
tuomioistuimen (EUT) ja korkeimman hallinto-oikeuden (KHO) oikeustapauksista, hallituksen
esityksistä, oikeuskirjallisuudesta sekä viranomaisohjeista.
Kansainvälisessä tavarakaupassa myyntiä koskevat myyntimaasäännökset määrittelevät tavaran
myyntimaan. Kun tavaran myyntimaa on Suomi, voi suomalainen elinkeinonharjoittaja soveltaa
EU-alueella tapahtuvaan tavaran myyntiin yhteisömyynnin verovapautta, jos verottomuutta
koskevat edellytykset täyttyvät. Tutkielmassa käsitellään näitä yhteisömyynnin verottomuuden
edellytyksiä ja sitä, millä edellytyksillä suomalainen elinkeinonharjoittaja voi soveltaa tavaran
myyntiin yhteisömyynnin verovapautta. Tutkielmassa käsitellään myös yhteisömyyntiin liittyviä
muita vaatimuksia. Jos yhteisömyyntiä koskevat verottomuuden edellytykset eivät täyty,
suomalaisen elinkeinonharjoittajan on suoritettava tavaran myynnistä arvonlisäveroa.
Modelling Volatility of Green Investment: Evidence From Hydrogen Financing
Karim, Md Rejaul (2025-09-22)
ABSTRACT:
The global clean energy demand has increased in recent years to address sustainability. At present, hydrogen is considered a cornerstone of sustainable energy solutions. Due to the increased demand for global sustainability, hydrogen has experienced significant growth in demand, production, and research. To ensure its viability and widespread adoption, understanding and managing the inherent risks associated with hydrogen investments is crucial for fostering a stable and attractive environment for continued growth and innovation in this vital sector. Moreover, the hydrogen investment can be influenced by the financial market condition represented by the Volatility Index (VIX). Surprisingly, the volatility dynamics and risk profiles of this growing sector, particularly the influence of broader financial market conditions as reflected by the VIX, remain largely unexplored. This gap in understanding presents a challenge to investors and policymakers seeking to foster stable and sustainable growth in hydrogen financing. To rectify this situation, this research addresses the gap in understanding and predicting hydrogen return volatility by applying various GARCH-type models to the S&P hydrogen economy index and CBOE Volatility Index (VIX) from May 2019 to May 2025. By applying a set of GARCH (generalized autoregressive conditional heteroskedasticity) approaches, the study reveals strong proof of volatility clustering and unequal effects of shocks on hydrogen returns. The TGARCH model highlights the prominence of negative shocks, while the EGARCH model indicates a larger impact from positive shocks. Furthermore, the study shows that the content of information in the Volatility Index (VIX) is an essential determinant to explain the variation in the hydrogen return. The incorporation of the Volatility Index (VIX) into the GARCH variance equation also improves the volatility forecasts of the hydrogen return.
The outcomes of the analysis could be helpful for investors, decision-makers, and stakeholders in developing effective risk management strategies for green energy projects within the emerging hydrogen financing sector. In the future, to contribute to the existing literature, the researchers can explore this area by expanding datasets, adding more macroeconomic factors, investigating specific event impacts, analysing interdependencies with other renewable energy sectors, employing advanced econometric techniques, and considering behavioural influences to further refine our understanding and forecasting capabilities.
Performance of Socially Responsible Investing During Financial Crisis: Evidence from 2008 crisis
Warell, Roope (2025-09-30)
Socially responsible investing (SRI) integrates environmental, social, and governance (ESG) factors into investment decisions and has gained attention as an alternative to traditional investing strategies. The performance and resilience of SRI during market turndowns and in general stable periods remain a topic of debate, as there is a lack of consensus regarding the performance of SRI against conventional methods.
The purpose of this study is to examine whether SR indices, such as MSCI KLD 400 Social and MSCI USA SRI outperformed the market portfolio S&P 500 during the financial crisis of 2008. In addition, this thesis aims to provide evidence whether these SRI investments could provide a better hedge for investors against market crashes or even act as a safe haven. Performance differences are measured and discussed with ratios such as Sharpe and Treynor and regression models Jensen’s alpha, CAPM, and Fama-French 3-factor.
The study focuses on the financial crisis of 2008 and time period used in data is from 15.9.2008 to 30.9.2009, which is commonly used window for the crash. Used data is from well known sustainable indices, MSCI KLD 400 Social and MSCI USA SRI. Benchmark index in the study is market index S&P 500 and data frequence in the study is daily. Log returns are calculated from sample indices’ daily total returns. Sources for data are Datastream and Kenneth R. French data library.
The empirical results of the study suggest that there are no significant performance differences between SRI portfolio and conventional portfolio and using sustainable investing strategies does not provide a better hedge against the market downturns. Study finds that multiple results from regression models are statistically insignificant and no concluding evidence of overperformance hypothesis can be found either from regression models or from performance measures. Insufficient evidence can be partly explained by narrow dataset, therefore further studies should focus on comparing different time periods, using modern SRI funds and study other market events globally.